September 16, 2019 / 3:03 PM / a month ago

Lower energy revenue pushes up Algeria's trade deficit

ALGIERS, Sept 16 (Reuters) - Algeria’s energy earnings fell 8.45% in the first seven months of 2019, pushing up the country’s trade deficit by $1.36 billion from the same period a year ago, official data showed on Monday.

Algeria has been trying to cut spending on imports in a bid to cope with a fall in energy revenue, the main source for state finances.

The value of oil and gas exports, which accounted for 93.02% of total sales abroad, stood at $20.13 billion against $21.99 billion from January-July 2018, according to figures released by customs.

That caused the trade deficit to rise to $4.41 billion from $3.05 billion in the first seven months of last year.

Algeria’s overall exports reached $21.64 billion, down from $23.68 billion in the first seven months of 2018, while imports fell 2.5% to $26.05 billion in the January-July period of 2019. (Reporting by Hamid Ould Ahmed, editing by Ed Osmond)

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